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Bajaj Finance accepts bids for 5-year bonds – traders

Reuters

MUMBAI (Reuters) - India's Bajaj Finance Ltd has accepted bids worth 6.50 billion rupees ($81.40 million) for bonds maturing in five years, three merchant bankers said on Wednesday.

The non-banking finance company, which had invited bids from bankers and investors earlier in the day, will pay an annual coupon of 7.60% on this issue, they said.

The notes are rated AAA by CRISIL and India Ratings. The issue will close for subscription on Thursday.

($1 = 79.8500 Indian rupees)

(Reporting by Dharamraj Lalit Dhutia; Editing by Shinjini Ganguli)